North Africa and the Eastern Mediterranean - an exploration "Spring"?
or are we headed into deepest "Winter"
» Senior Analyst
» Bernstein Research
» New Ventures Manager
Tuesday, February 12, 2013
The Geological Society
What exploration opportunities are there in North Africa, from Morocco via Algeria and Libya to Egypt?
Below ground, these countries show different stages of exploration maturity.
Offshore Morocco has been quite active in leasing terms recently and is perceived as a Frontier province.
Algeria has ‘always been open’ and now most plays and basins look quite Mature in exploration terms.
For Libya, one would say that the Offshore is also a Frontier province. Onshore, whilst there is a long history of exploration and production, not all the significant basins have been equally explored, and there is a case to agree that exploration has, for the past several decades, not benefitted from the latest technologies.
Similarly to Algeria, Egypt has ‘always been open’ and most plays look quite Mature in exploration terms, although again there is a case that some modern technologies still have a role to play – for example sub-salt imaging in the Gulf of Suez and Full Tensor Gravimetry onshore.
And the Eastern Mediterranean Frontier has seen considerable excitement in the last year or two, with major - in fact, huge - gas discoveries; an 'exploration Spring' is well under way.
Above ground, of course there are some significant issues to contemplate, in particular with political and security stability still to result in Libya and Egypt in the wake of the ‘Arab Spring’.
This Forum will examine whether or not we should anticipate an imminent ‘exploration Spring’ in the region, in particular whether further large discoveries can be foreseen, and if so, where?
|Dr Clint joined Sanford C. Bernstein in 2004 and was part of the Energy Team with Neil McMahon covering the Global Integrated Oil sector.|
Currently he is the Senior Research Analyst covering the European E&P and Russian Oil & Gas sectors. The Bernstein Energy franchise has become well known due to both the provocative commentary on the commodities and oil stocks, as well as the innovative research that forms the core of their frequent publications. Previously, he worked as an accountant and consultant for KPMG covering energy, gas, and chemical sectors. Dr Clint received his PhD in Geophysics from University College London where he specialised in sub-surface rock physics and is also a Chartered Accountant.
Sanford C. Bernstein is widely recognized as Wall Street's premier sell-side research firm. Their re
|Dr Neil Hodgson joined Spectrum in June 2012, having previously worked for BP, BG and Premier Oil at a number of Exploration Geology roles over a 25 year career. His last role prior to joining Spectrum was as Exploration Director for Matra Petroleum. Neil is focussed on developing the understanding of hydrocarbon plays in the areas of Spectrum’s Library, and finding new ways for Spectrum to do business. He manages Spectrum’s Geology, Geophysics and GIS technology team located in the UK office.|
The Spectrum Group of companies provides high-quality Multi-Client and expert Seismic Imaging from o
|LPD Risk Management Ltd assists organisations recognise and mitigate a wide range of political, soci|
Our panellists will be:
Neil Ritson, CEO of Leni Gas and Oil
Greg Coleman, MD of Petromall
Terry Quinn, Manager (EAME Region) of Geokinetics
I will pose two questions to begin with:
What are the best opportunities in the region?
Can we work there?
and then open a Q&A sesion.
|David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.|
Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.
He joined the board of Premier Oil in May 2014.
He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.
He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.
From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.
He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.
New Eyes Exploration
New Eyes Exploration, founded by David Bamford, explores new ways to discover Oil and Gas.